Secretary General Aldo Flores was invited to deliver a keynote speech at the inaugural Gulf Intelligence Oman Energy Forum "Building Producer-Consumer Partnerships for the Post Easy Oil Era".
Dr Flores also participated in a panel discussion with Mulham Al Jarf, Deputy CEO of the Oman Oil Company and Jay Pearson, VP Business Development, Petrofac. Entitled "An industry in Transformation - Future Partnerships?". The organisers set the scene for the panellists - inviting them to reflect on the impact of consolidation in the energy industry following the wave of M&A activity post 1990 which created the super–majors and effectively redefined the sector. They were also asked to consider a new transformation that has taken place in more recent times, less defined perhaps but equally as radical – NOCs are becoming NIOCs; Supermajors are slimming down; Service companies are taking on IOC activities; Independents are joining forces; trading firms are diversifying & buying assets – and were tasked with addressing the the following: What is the Destination & Consequence of this Transformation?
The overarching theme of the forum was "The Sultanate: Pioneering in the Energy World".
Oman has taken a pioneering role in the energy world, leading on the application of enhanced oil recovery (EOR) techniques to stem and reverse a decline in domestic oil production, and listing the Oman crude futures contract on Dubai's DME to establish it as pricing benchmark for the Asian Market. The sultanate's global standing has been bolstered in recent years by its strategic location on the crossroads of the emerging south-south energy corridor that will connect Africa, the Middle East and Asia, providing a platform for oman to exploit its strengths and resources. At Home, the sultanate is seeking to develop its energy sector from upstream to as downstream as manufacturing and shipping as part of its in-country-value (ICV) creation strategy that aims at diversifying the local economy and creating jobs, as well as attracting international investment and know how. What is the short, medium and long term outlook for Oman's external ambitions? Can the country continue to play a pioneering role in the global energy industry?
Gulf Intelligence published an Op-Ed featuring the views of IEF Secretary General Aldo Flores - "Building Partnerships for the Post Easy Oil Era" which can be found in the Key Documents below. The original article appears in the special edition of the Gulf Intelligence Energy Outlook issued in October 2013 (see link below).